SANMU GROUP(SZ:000632) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-11-20 02:17Core Viewpoint - The announcement details the provision of guarantees by Fujian Sanmu Group Co., Ltd. for its subsidiaries, highlighting the financial implications and the company's commitment to managing risks associated with these guarantees [1][2][14]. Summary by Sections Guarantee Overview - Fujian Sanmu Group's wholly-owned subsidiary, Fujian Sanmu Construction Development Co., Ltd., has applied for a credit limit of 40 million yuan from Industrial and Commercial Bank of China, with the company providing a joint liability guarantee for a term of 5 years [3][12]. - The company's controlling subsidiary, Fuzhou Light Industry Import and Export Co., Ltd., has applied for a credit limit of 20 million yuan from Guangfa Bank, with the company also providing a joint liability guarantee for a term of 1 year [3][13]. - Another controlling subsidiary, Changsha Huangxing South Road Pedestrian Street Property Management Co., Ltd., has applied for a credit limit of 2.8 million yuan from Dongguan Bank, with a joint liability guarantee provided by another subsidiary [3][13]. Guarantee Approval - The company approved a total guarantee plan of 569.65 million yuan for 2025, with specific limits for subsidiaries based on their asset-liability ratios [4][5]. - The planned guarantee amounts for subsidiaries are as follows: 490.65 million yuan for those with an asset-liability ratio over 70%, and 79 million yuan for those with a lower ratio [4]. Financial Data of Guaranteed Subsidiaries - Fujian Sanmu Construction Development Co., Ltd. reported total assets of approximately 2.35 billion yuan and a net loss of about 65.4 million yuan for the year ending December 31, 2024 [7]. - Fuzhou Light Industry Import and Export Co., Ltd. reported total assets of approximately 1.46 billion yuan and a net profit of about 16.98 million yuan for the year ending December 31, 2024 [9]. - Changsha Huangxing South Road Property Management Co., Ltd. reported total assets of approximately 45.61 million yuan and a net profit of about 5.32 million yuan for the year ending December 31, 2024 [10]. Cumulative Guarantee Amounts - As of November 19, 2025, the total external guarantee balance for the company and its subsidiaries is 90 million yuan, with the total guarantees provided by the parent company amounting to 420.91 million yuan, which is 413.82% of the company's latest audited net assets [16]. Board Opinion - The board believes that the guarantee plan is necessary for the company's financing needs in 2025 and will not adversely affect the company's operational capabilities [14][15]. - The company maintains control over the financial risks associated with these guarantees, ensuring that the subsidiaries have good repayment capabilities [14][15].